Low Speed Vehicle Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2020 - 2025

Report Code: AM 86506 Report Format: PDF + Excel (Delivery in 48 Hrs)
Overview
The market for Low Speed Vehicles is forecast to reach $6.18 billion in 2025, after growing at a CAGR of 8.47% from 2020 to 2025. Low speed vehicles are majorly deployed in industrial facilities, warehouses, hotels and so on for the goods movement and other operations. The significant penetration of the electric technology in the low speed vehicles is set to significantly impact on the market growth rate. The significant adoption of the low speed vehicles in the personal utility vehicles is also set to further escalate the market growth rate.

Report Coverage
The report: “Low Speed Vehicles Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Low Speed Vehicles market. 

By Vehicle Type: Golf cart, Commercial turf utility vehicle, industrial utility vehicle, personal mobility vehicle and others
By propulsion type: Electric, gasoline, diesel
By power output: <8kW, 8-15kW, >15kW
By Application: Golf courses, Hotels & resorts, Airports, Industrial facilities, warehouses and others
By Geography: North America, South America, Europe, APAC, and RoW

Key Takeaways
  • Low speed Electric vehicles are analysed to grow at highest rate during the forecast period  owing to the growth in recorded sales due to cheaper costs, maintenance and stringent environmental norms.
  • North America is analysed to hold highest market share in 2019 owing to the high geriatric population alongside the highly developed economy.
  • The increasing demand for electric vehicles is set to drive the market for Low Speed Vehicles market during the forecast period.

By Propulsion type- Segment Analysis
Electric type is analysed to grow at highest rate during the forecast period, this is majorly attributed to the environmental issues and the decreasing adoption of the conventional vehicles. Ampere, a low speed electric scooter manufacturer has announced that the sales of the low speed electric scooters have risen from 5,500 units in 2018 to 15,000 units in FY 2019. The demand is further increasing with the wide spread applications in hotels, warehouses and others, thereby boosting the market growth rate.

By Application- Segment Analysis 
The hotels and resorts are analysed to hold highest market in 2019 owing to the growing hospitality sector. The increasing demand for the hospitality in the gated communities and the growing investments in these sectors is set to boost the market growth rate. The significant deployment of the commercial low speed vehicles in the industrial sector is also set to boost the market growth rate. Alongside this, the increase in significant deployment of the low speed electric vehicles in airports and golf courses is further driving the market growth rate.

Geography - Segment Analysis
North America is analysed to hold highest market share in 2019 majorly attributed to the high economy and the presence of geriatric population. The significant presence of the golf courses in the North American region is further contributing to the market growth rate. Furthermore, the growth of luxury tourism in the region alongside the adoption of electric low speed vehicles due to low noise carbon emissions is set to boost the growth rate in the region. As the region has high economy, the sales of the personal utility vehicles in the region for the geriatric population is further set to boost the market growth rate. 

Drivers – Low Speed Vehicles market 
  • Rising geriatric population to boost the demand for low speed vehicles:
The significant rise in the geriatric population in the countries such US, India and so on is set to cause a rise in the demand for the low speed vehicles thereby acting as a key driver for the market. As stated by US Census, the elderly population of age above 55 years is set to rise by 23.4% by 2060. The geriatric population majorly deploy the low speed vehicles such as electric scooters, wheel chairs and so on in the developed economies, therefore this factor is set to escalate the market growth rate during the forecast period.
  • Increasing use of lithium ion batteries in the low speed electric vehicles:
The use of lithium ion batteries has significantly increased in the recent times owing to their advantages thereby contributing to the increasing growth of the low speed electric vehicles. Lithium ion batteries have higher energy density and provide better power efficiency therefore they are highly deployed in the low speed electric vehicles and is set to boost the market growth rate during the forecast period 2020-2025.

Challenges – Low Speed Vehicles market
  • Lack of safety standards
In the electric vehicles more energy from the battery is taken to the inverter causing switching losses, thereby impacting on the vehicle performance. It also affects the thermal efficiency of electronic units in the electric drive system thereby hindering the market growth. Alongside this, these low speed vehicles lack safety standards thereby resulting in the accidents and hindering the market growth rate.

Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Low Speed Vehicles market. Low Speed Vehicles driver market is expected to be dominated by major companies such as Ingersoll Rand, Textron Inc., Yamaha Motor Corp., Polaris Inc., Kubota Corp., Colubia Vehicle Group among others.

Acquisitions/Technology Launches/Partnerships
  • In January 2019, Textron has launched Hauler 800 ELiTE electric utility vehicle, which is powered by Samsung SDI lithium technology. 
1. Low Speed Vehicle Market - Overview
        1.1 Definitions and Scope
2. Low Speed Vehicle Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Low Speed Vehicle Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Low Speed Vehicle Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Low Speed Vehicle Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Low Speed Vehicle Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Low Speed Vehicle Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Low Speed Vehicle Market - By Power Output (Market Size -$Million / $Billion)
        8.1 <8 kW 
        8.2 8 kW–15 kW 
        8.3 >15 kW
9. Low Speed Vehicle Market - By Propulsion (Market Size -$Million / $Billion)
9.1 Introduction 
9.2 Diesel 
9.3 Electric 
9.4 Gasoline
10. Low Speed Vehicle - By LSV Type (Market Size -$Million / $Billion)
        10.1 Commercial Turf Utility Vehicles 
        10.2 Golf Carts
        10.3 Industrial Utility Vehicles
10.4 Personnel Carriers
11. Low Speed Vehicle- By Geography (Market Size -$Million / $Billion)
        11.1 Low Speed Vehicle Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Low Speed Vehicle- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Low Speed Vehicle- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Low Speed Vehicle - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Low Speed Vehicle - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Low Speed Vehicle Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Low Speed Vehicle Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Low Speed Vehicle Market - Key Company List by Country Premium
15. Low Speed Vehicle Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 American Landmaster
        15.3 Club Car
        15.4 Columbia Parcar
        15.5 Deere
        15.6 Kubota
        15.7 Polaris
        15.8 Taylor Dunn
        15.9 Textron
        15.10 Toro
        15.11 Yamaha
        15.12 Company 12
        15.13 Company 13 & More
*Financials would be provided on a best efforts basis for private companies
16. Low Speed Vehicle Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Low Speed Vehicle Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

List of Tables

1 US Low Speed Vehicle Market Size 2018
2 Canada Low Speed Vehicle Market Share 2018
3 Brazil Low Speed Vehicle Market Outlook 2019 - 2023
4 Mexico Low Speed Vehicle Market Research 2018
5 Germany Low Speed Vehicle Market Trends 2019 - 2023 
6 France Low Speed Vehicle Market Growth 2019 - 2023 
7 UK Low Speed Vehicle Market Demand 2019 - 2023 
8 Italy Low Speed Vehicle Market Segmentation 2018
9 Russia Low Speed Vehicle Market Analysis 2019 - 2023
10 China Low Speed Vehicle Market Revenue 2019 - 2023
11 Japan Low Speed Vehicle Market Volume 2019 - 2023
12 South Korea Low Speed Vehicle Market Potential 2019 - 2023
13 India Low Speed Vehicle Market Leaders 2018
14 Saudi Arabia Low Speed Vehicle Market Forecast 2019 - 2023 
15 Kuwait Low Speed Vehicle Market Value 2018

List of Figures

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